The article tracks appraiser capacity monthly, showing the total number of conventional and government loans, appraisal waivers, appraisals, unique active appraisers, and the number of appraisals per unique appraiser.
Total
Loans
Total
Waivers
Total
Appraisals
Total
Unique Appraisers
Appraisals Per
Unique Appraiser
429K
68K
360K
29.4K
12.3
The total number of conventional and government 1st mortgages.
The total number of conventional and government appraisal alternatives.
The net number of conventional and government appraisals completed.
The number of active residential appraisers supporting 1st mortgage origination.
The average number of appraisals completed per appraiser this month.
The total number of loans in March 2026 was 428,684, up 14.7% on last month and 17.8% on February 2025. Appraisal alternatives were 68,384 down 11.9% on last month and up 59.9% on February 2025.
The number of unique appraisers was 29,400 in March 2026, up 3.5% on last month, but down 3.3% on February 2025. This is 1.7% down on the last 12 months average, and 4.5% down on the preceding 12-24 rolling average.
The number of appraisals completed per unique appraiser was 12.3 in March 2026, up 17.5% over the last month, and up 16.0% on the March 2025. This is 6.6% up on the last 12 months average, and 16.1% up on the preceding 12-24 rolling average.
Appraiser Capacity
Total Number of First Mortgage Loans
The total number of first mortgage loans originated is from direct originators – retail and wholesale channels – who fund loans and place orders for appraisals and other settlement services. Standalone home equity loans and HELOCs are not included in the appraiser capacity, as the majority are originated using Automated Valuation Models (AVMs), Property Condition Reports (PCRs) and Residential Evaluations.
Total Number of Appraisers
The number of appraisers is derived from analysis contained in recent articles Residential Real Estate Appraisers – Active in the US and Residential Appraiser Trends Since 2016 that utilize The Appraisal Subcommittee (ASC) registry to determine the number of appraisers actively completing field assignments in residential first mortgage.
Total Number of Appraisals
The number of loans that are originated with appraisal alternatives, such as GSE appraisal waivers, GSE inspection based appraisal waivers, and Government streamlined refinance programs, is used to compute the total number of appraisals used.
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Data Sources & Analysis
The Appraisal Subcommittee (ASC)
The Appraisal Subcommittee (ASC) oversees the real estate appraisal regulatory framework for federally related transactions. The ASC is a subcommittee of the Federal Financial Institutions Examination Council (FFIEC).
The ASC provides the AMC Registry to search for Appraisal Management Companies and the Appraiser Registry to search for Appraisers, based on State credentials. The Appraiser Registry collates data nationally from state appraiser licensing boards, and allows analysis of appraiser capacity by state.
Freddie Mac Appraiser Capacity
Freddie Mac publishes a monthly Appraiser Capacity report that provides data on the volume of appraisals being completed and the number of unique appraiser licenses being used to completing them.
In March 2026 this showed 30,000 active appraiser licenses being used to submit to the Uniform Collateral Data Portal (UCDP) monthly. Additionally, the data is for all appraisal report types submitted to UCDP, not just Fannie Mae URAR 1004 and Freddie Mac URAR 70 ‘traditional appraisal’ forms.